ZWJ Investment Counsel Inc. Decreases Holdings in Visa (V)

ZWJ Investment Counsel Inc. cut its holdings in shares of Visa (NYSE:V) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,684 shares of the credit-card processor’s stock after selling 1,937 shares during the period. ZWJ Investment Counsel Inc.’s holdings in Visa were worth $7,147,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Beach Investment Management LLC. raised its holdings in Visa by 455.7% during the second quarter. Beach Investment Management LLC. now owns 144,089 shares of the credit-card processor’s stock worth $13,513,000 after purchasing an additional 118,159 shares in the last quarter. CWA Asset Management Group LLC raised its holdings in Visa by 10.0% during the second quarter. CWA Asset Management Group LLC now owns 24,401 shares of the credit-card processor’s stock worth $2,288,000 after purchasing an additional 2,217 shares in the last quarter. Teachers Advisors LLC raised its holdings in Visa by 0.6% during the second quarter. Teachers Advisors LLC now owns 4,511,717 shares of the credit-card processor’s stock worth $423,109,000 after purchasing an additional 25,336 shares in the last quarter. Roosevelt Investment Group Inc. raised its holdings in Visa by 16.4% during the second quarter. Roosevelt Investment Group Inc. now owns 120,787 shares of the credit-card processor’s stock worth $11,327,000 after purchasing an additional 17,051 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its holdings in Visa by 1.0% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 12,467 shares of the credit-card processor’s stock worth $1,169,000 after purchasing an additional 122 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

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Shares of NYSE:V opened at $117.70 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.07 and a current ratio of 2.07. Visa has a 12-month low of $88.13 and a 12-month high of $126.88. The firm has a market cap of $249,716.50, a price-to-earnings ratio of 33.82, a PEG ratio of 1.59 and a beta of 0.99.

Visa (NYSE:V) last announced its earnings results on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.10. Visa had a net margin of 38.12% and a return on equity of 32.97%. The company had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the previous year, the business earned $0.86 EPS. The company’s revenue was up 9.0% on a year-over-year basis. sell-side analysts forecast that Visa will post 4.38 earnings per share for the current fiscal year.

Visa declared that its board has approved a stock repurchase plan on Thursday, February 1st that authorizes the company to buyback $7.50 billion in outstanding shares. This buyback authorization authorizes the credit-card processor to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

In other Visa news, EVP Lynne Biggar sold 1,712 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $120.00, for a total transaction of $205,440.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.14% of the stock is owned by insiders.

V has been the topic of several recent analyst reports. Susquehanna Bancshares boosted their target price on Visa from $126.00 to $148.00 in a report on Thursday, December 28th. Wells Fargo reissued an “outperform” rating and set a $135.00 target price (up previously from $127.00) on shares of Visa in a report on Tuesday, January 9th. Stephens reissued a “buy” rating and set a $135.00 target price on shares of Visa in a report on Wednesday, January 10th. Cowen reissued a “buy” rating and set a $129.00 target price on shares of Visa in a report on Friday, January 12th. Finally, Citigroup reissued a “buy” rating and set a $136.00 target price (up previously from $124.00) on shares of Visa in a report on Friday, January 12th. Two research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $134.97.

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Visa Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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